Workflow
Amentum Holdings, Inc.(AMTM) - 2025 Q1 - Quarterly Results
AMTMAmentum Holdings, Inc.(AMTM)2025-02-04 21:34

Financial Performance - Revenues for Q1 FY 2025 were 3.4billion,representinga723.4 billion, representing a 72% increase year-over-year[2] - Net income improved to 12 million from a loss of 41millioninthepreviousyear,a12941 million in the previous year, a 129% change[2] - Adjusted EBITDA for Q1 FY 2025 was 262 million, up 3% from 255millioninQ1FY2024[2]−RevenuesforthequarterendedDecember27,2024,were255 million in Q1 FY 2024[2] - Revenues for the quarter ended December 27, 2024, were 3,416 million, a 72.1% increase from 1,983millioninthesamequarterofthepreviousyear[28]−Operatingincomeroseto1,983 million in the same quarter of the previous year[28] - Operating income rose to 132 million, compared to 86millionintheprioryear,reflectinga53.586 million in the prior year, reflecting a 53.5% increase[28] - Net income attributable to common shareholders was 12 million, a significant recovery from a net loss of 41millioninthesamequarterlastyear[28]−AdjustedEBITDAforthequarterwas41 million in the same quarter last year[28] - Adjusted EBITDA for the quarter was 264 million, reflecting strong operational performance[38] - Net income attributable to common shareholders was 122million,resultinginanetincomemarginof3.7122 million, resulting in a net income margin of 3.7%[47][48] - Basic and diluted earnings per share attributable to common shareholders improved to 0.05, compared to a loss of 0.46pershareinthepreviousyear[28]−Basicanddilutedearningspershareattributabletocommonshareholderswere0.46 per share in the previous year[28] - Basic and diluted earnings per share attributable to common shareholders were 0.50[47] Cash Flow and Financial Stability - Free cash flow for the quarter was 102million,drivenbystrongcashearningsanddisciplinedworkingcapitalmanagement[10]−Thecompanyhad102 million, driven by strong cash earnings and disciplined working capital management[10] - The company had 522 million in cash and cash equivalents and 4.7billionindebtasofDecember27,2024[10]−Cashandcashequivalentsincreasedto4.7 billion in debt as of December 27, 2024[10] - Cash and cash equivalents increased to 522 million from 452millionattheendofthepreviousquarter[31]−Netcashprovidedbyoperatingactivitieswas452 million at the end of the previous quarter[31] - Net cash provided by operating activities was 110 million, a turnaround from a cash outflow of 83millioninthesamequarterlastyear[32]−Thecompanyreportedanetchangeincashandcashequivalentsof83 million in the same quarter last year[32] - The company reported a net change in cash and cash equivalents of 70 million for the quarter, compared to a decrease of 94millioninthesamequarterlastyear[32]−Totalassetsdecreasedslightlyto94 million in the same quarter last year[32] - Total assets decreased slightly to 11,919 million from 11,974millioninthepriorquarter[31]−Totalliabilitiesdecreasedto11,974 million in the prior quarter[31] - Total liabilities decreased to 7,356 million from 7,422million,indicatingimprovedfinancialstability[31]ContractsandBacklog−Thecompanyreportedabacklogof7,422 million, indicating improved financial stability[31] Contracts and Backlog - The company reported a backlog of 45.2 billion, an increase of 17.9billioncomparedto17.9 billion compared to 27.3 billion in the previous year[11] - Notable contract awards included a 3billioncontractfromtheU.S.DepartmentofEnergyanda3 billion contract from the U.S. Department of Energy and a 447 million contract from the U.S. Department of Defense[13] Segment Performance - Digital Solutions revenues increased by 1% year-over-year, while Global Engineering Solutions revenues grew by 3%[9] Other Financial Metrics - Adjusted diluted earnings per share for Q1 FY 2025 were 0.51,a20.51, a 2% increase from 0.50 in the previous year[2] - Operating income was reported at 119million,withaproformanon−GAAPoperatingincomeof119 million, with a pro forma non-GAAP operating income of 252 million[47] - EBITDA (non-GAAP) for the quarter was 255million,withanEBITDAmarginof7.6255 million, with an EBITDA margin of 7.6%[47] - Acquisition, transaction, and integration costs amounted to 7 million[47] - Amortization of intangibles was 124million,impactingtheproformaadjustednetincome[47]−Non−operatingexpenses,net,werereportedat124 million, impacting the pro forma adjusted net income[47] - Non-operating expenses, net, were reported at (82) million[47] - Provision for income taxes totaled (41)million,reflectingadjustmentsfornon−GAAPtaxdeductibleitems[47]−Share−basedcompensationexpensesrecognizedwere(41) million, reflecting adjustments for non-GAAP tax deductible items[47] - Share-based compensation expenses recognized were 2 million[47]